BEIJING (Reuters) – Activity in China’s services sector expanded at the fastest pace in six months in February as the removal of tough COVID-19 restrictions revived customer demand, driving a solid increase in employment, a private sector survey showed on Friday. The Caixin/S&P Global services purchasing managers’ index (PMI) rose to 55.0 in February from…
By Julie Zhu HONG KONG (Reuters) – Asian shares rose on Friday after Wall Street reversed losses on signals of a measured policy tightening approach from the U.S. Federal Reserve as well as on prospects of a solid economic recovery in China. Global markets have been buffeted by a raft of strong U.S. data over…
By Scott Murdoch SYDNEY (Reuters) -GQG Partners Inc’s Australian-listed shares fell by as much as 3% on Friday after the international investment firm pumped $1.87 billion into four companies under embattled Indian conglomerate Adani Group. The Florida-based firm bought 3.4% of Adani Enterprises Ltd for about $662 million, 4.1% of Adani Ports and Special Economic…
By Katherine Masters NEW YORK (Reuters) -Major U.S. retailers including Best Buy, Walmart and Amazon are increasing their offerings of healthcare and health-related products as inflation-wary Americans shift more of their budgets to services and away from goods. Electronics retailer Best Buy recently kicked off a partnership with Atrium Health, part of Advocate Health, one…
By Kanishka Singh and Susan Heavey WASHINGTON (Reuters) -The U.S. government on Thursday called on companies to ensure they comply with Russia-related sanctions imposed after Moscow’s invasion of Ukraine, warning that a failure to do so could lead to potential prosecution or enforcement actions. Businesses should be aware of tactics being used to skirt restrictions…
By Dietrich Knauth (Reuters) – A U.S. bankruptcy judge on Thursday criticized the Securities and Exchange Commision for casting vague doubts about crypto lender Voyager Digital’s proposed sale to Binance.US, saying the regulator had essentially asked to “stop everybody in their tracks” without explaining how to address its concerns. U.S. Bankruptcy Judge Michael Wiles made…
By Dawn Chmielewski (Reuters) – Universal Music Group NV, the world’s largest record label, said quarterly revenue from music streaming surpassed 1 billion euros ($1.06 billion) for the first time in the fourth quarter, a milestone that underscores its continued importance to the music business. Even as Universal Music’s chairman and CEO Lucian Grainge lauded…
By David Shepardson WASHINGTON (Reuters) – Ford Motor Co said Thursday it will restart production of its F-150 Lightning on March 13 after it halted output of the electric truck after a battery fire in early February. Ford has not set a date for resuming deliveries. The U.S. automaker said as it “ramps up production,…
By Kanishka Singh WASHINGTON (Reuters) -The U.S. Federal Trade Commission’s lone Republican commissioner, Christine Wilson, will step down from her role at the end of March, she said in a letter to President Joe Biden on Thursday, in which she criticized FTC Chair Lina Khan. “Under her (Khan’s) leadership, knowledgeable career staff have been scorned…
By David Shepardson WASHINGTON (Reuters) -Ford Motor Co said it is recalling 98,500 older Ranger pickup trucks in the United States because replacement front passenger air bag inflators may have been installed incorrectly. The new recall covers 2004-2006 model year Ranger trucks recalled in 2017 and 2018 to replace a small number of inflators that…
